Selling a Rental Property in Baltimore
Selling a rental has its own questions. We help with the tenants, the condition, and who the buyer is.
Selling a rental starts with a few decisions
If you own a rental and you're thinking about selling, you probably have some questions. What do I do about the tenants? What condition does the house need to be in? Who is going to buy it?
We help you answer each one, and we build the plan from there.
Tell me about your rental
Tenants: in place or vacant
Selling a home with tenants in it can work when the tenants are cooperative. They agree to keep the house clean and show-ready, make it available to be shown, and leave during showings. That isn't always the case.
When it's possible, we suggest selling after the tenants have moved out. Then we can clear out the house, clean it, repair it, and stage it, so it shows in its best condition. That gives you the best chance at the highest return on your investment.
If we do have to sell with tenants in the house, we ask for their cooperation. That means keeping it show-ready and vacating during showings.
Condition: what to fix before you list
We talk with you to sort the work into three groups: what must be fixed, what should be fixed, and what we leave for the next owner to update.
Ideally, the house is fixed and in its best condition before it hits the market. Curb appeal matters, especially in a competitive market. It's better to put money in before the house is listed than to make repairs for a buyer after you're under contract.
Who is the most likely buyer
We do an evaluation to figure out who the most likely buyer is. Then we tailor our marketing to that buyer.
If you have questions about taxes, we suggest you talk with your accountant, because we can't give tax advice.
A recent example
I once worked with an owner who lived out of town and had rented her home for years. A tenant had damaged the house, and she was overwhelmed. She didn't know whether to rent again or sell, or where to start.
I walked her through the plan: what it takes to get a house ready, marketed, and sold. We got contractors out for quotes, did the work, staged the house, and photographed it. It went on the market with our full marketing plan, and we had an offer very quickly.
If that sounds like you, here's how selling from out of town works.
Let's make a plan
If you own a rental in Baltimore and you're thinking about selling, tell me where things stand. We'll start with the tenants and the condition, and build the plan from there. Tell me about your rental.
Frequently Asked Questions
Can I sell while tenants are living in the house?
It can work when the tenants are cooperative. They keep the house show-ready, make it available, and leave during showings. When possible, we suggest selling after they've moved out.
Should I fix things before I list?
Ideally, yes. We decide together what must be fixed, what should be fixed, and what to leave for the next owner. It's better to put money in before the house hits the market than to make repairs after you're under contract.
Who buys a rental?
We evaluate who the most likely buyer is, then tailor the marketing to that buyer.
Do you give tax advice?
No. We can't give tax advice, so we suggest you talk with your accountant.
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Ready to make your move with Figurelle Team of Cummings & Co. Realtors?